Welcome to our dedicated page for Caledonia Mining Corporation Plc news (Ticker: CMCL), a resource for investors and traders seeking the latest updates and insights on Caledonia Mining Corporation Plc stock.
Caledonia Mining Corporation Plc (symbol: CMCL) is a dynamic gold exploration, development, and mining company headquartered in Mississauga, Ontario, Canada. This mining and metals company operates primarily through its flagship Blanket Mine located in the south-west of Zimbabwe. The Blanket Mine, a profitable venture, operates at a depth of approximately 750 meters below the surface and is the primary revenue generator for Caledonia Mining Corp.
The company's diversified portfolio also includes the Bilboes Oxide Mine and several exploration and development projects such as Maligreen and Motapa. These strategic projects underscore the company's commitment to expanding its gold production capabilities and enhancing shareholder value.
Recent Achievements:
- Caledonia Mining Corp has made significant strides in increasing its gold production, which is reflected in its strong financial performance.
- The latest mineral resource estimate in the Preliminary Economic Assessment (PEA) based on a 0.9g/t Au Cut-Off Grade highlights the potential for further resource expansion.
- The company continues to engage with stakeholders, evidenced by recent announcements such as the TR-1: Standard form for notification of major holdings and the upcoming Q1 2024 Results Call for Shareholders.
Current Projects:
- The Blanket Mine remains the cornerstone of Caledonia's operations, contributing the majority of its revenue.
- The Bilboes Oxide Mine is under development, with significant potential for future gold production.
- Exploration projects like Maligreen and Motapa are in various stages of development, promising future growth.
The company's strategic focus on operational efficiency, cost control, and targeted exploration ensures sustainable growth and profitability. With a strong balance sheet and a dedicated management team, Caledonia Mining Corp continues to position itself as a significant player in the gold mining industry.
Caledonia Mining Plc announced strong Q2 2024 results, with gross revenues of $50.1 million, up from $37.0 million in Q2 2023. Gross profit increased 109.8% to $22.9 million. Blanket Mine produced 20,773 ounces of gold, compared to 17,436 ounces in Q2 2023. The all-in sustaining cost decreased 7.7% to $1,253 per ounce.
Key highlights include:
- Updated mineral reserves showing a 106% increase at Blanket Mine
- Preliminary economic assessment for Bilboes Sulphide Project suggesting 1.5 million ounces of gold over 10 years
- Net cash position improved by $12.8 million to negative $1.4 million
- Quarterly dividend of 14 cents per share maintained
Caledonia remains on track to achieve its 2024 production guidance of 74,000 to 78,000 ounces at Blanket Mine.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has announced it will publish its Q2 2024 operating and financial results on August 12, 2024. The company will host a remote presentation for analysts and investors on the same day at 2:00 PM London time, followed by a Q&A session. A presentation of the results and company outlook will be available on Caledonia's website.
Investors can register for the webinar in advance through the provided Zoom link. The announcement includes contact details for various company representatives and financial PR firms in the UK, North America, and Zimbabwe, as well as information about the company's joint brokers and VFEX sponsor.
Caledonia Mining Plc (NYSE AMERICAN, AIM and VFEX: CMCL) has published its 2023 ESG Report, aligning with GRI and SASB standards for the first time. Key highlights include:
- 14% reduction in Scope 1 and 2 greenhouse gas emissions
- 62% reduction in diesel used in generators
- 18% of total water consumption from recycled water
- Total Injury frequency rate (TIFR) of 0.96
- 100% local employment at Blanket Mine and 92% local suppliers
- US$1.5m spent on corporate social responsibility
- US$19.2m total payments to Government
- 11% female representation on Board of Directors (increased to 25% in 2024)
- 33% female representation among senior corporate management
CEO Mark Learmonth emphasized the company's commitment to responsible operations and sustainable practices in Zimbabwe, highlighting the appointment of Colleen Parkins as Head of ESG and the installation of a 12.2 MWac solar plant.
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced on July 25, 2024, that it received a notification from BlackRock, Inc. regarding a relevant change in shareholding. As of July 23, 2024, BlackRock's total position in Caledonia increased to 5.01% of voting rights, crossing a notification threshold.
The breakdown of BlackRock's position includes 4.53% of voting rights attached to shares (870,326 shares) and 0.47% through financial instruments (92,029 voting rights via CFDs). This change represents a slight increase from their previous position of 4.97%.
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced a significant change in shareholding. On July 16, 2024, BlackRock, Inc. crossed a notification threshold, holding 5.01% of Caledonia's voting rights as of that date. The breakdown shows 4.53% direct voting rights and 0.47% through financial instruments, totaling 962,139 voting rights. This represents an increase from previous holdings of 4.67%.
The notification was filed on July 17, 2024, as required by the AIM Rules for Companies. The voting rights are held through various BlackRock entities, including BlackRock Fund Advisors, which alone holds 3.02%.
Caledonia Mining Plc (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced that on July 10, 2024, Allan Gray Proprietary confirmed holding 1,343,747 shares. This represents 7.00% of Caledonia's issued share capital, marking a relevant change under AIM Rules for Companies. Allan Gray's interest is through its investment funds: Allan Gray Africa Equity Fund and Allan Gray Africa Ex SA Equity Fund This update reflects a change from their previously disclosed shareholding.
Caledonia Mining announced a strong production performance at its Blanket Mine in Zimbabwe for Q2 2024. The mine produced 20,773 ounces of gold, marking a 19% increase from the 17,436 ounces in Q2 2023. For H1 2024, production reached 37,823 ounces, a 13% rise over the same period in 2023. The company maintains its 2024 gold production guidance at 74,000 to 78,000 ounces. CEO Mark Learmonth expressed satisfaction with the results, emphasizing the company's preparedness to transition into a multi-asset gold producer. The production figures have been verified by Craig James Harvey, a qualified person under relevant regulatory standards.
Caledonia Mining announced that a consultant has exercised share options for 5,000 common shares at an exercise price of $7.35 each.
These shares will be admitted to trading on AIM starting July 10, 2024. This exercise increases the total number of issued shares to 19,199,860, with no shares held in treasury.
This update assists shareholders in determining their notification obligations regarding interest changes in the company.
Caledonia Mining announces a quarterly dividend of 14 cents per share, payable on July 26, 2024. The ex-dividend dates are July 10 for VFEX, July 11 for AIM, and July 12 for NYSE American, with a record date of July 12, 2024. Shareholders in the UK will receive payments in Sterling. The company has maintained a quarterly dividend policy since 2014, aiming to maximize shareholder value while balancing investment opportunities and risk management.
Caledonia Mining (NYSE AMERICAN: CMCL; AIM: CMCL; VFEX: CMCL) announced the cancellation of its block admission related to the 'At the Market' (ATM) sales agreement with Cantor Fitzgerald & Co. This agreement, announced on May 18, 2023, allowed the company to issue shares but expired on May 18, 2024. No shares were issued under this agreement, leaving 2,000,000 depositary interests unallotted. The cancellation became effective on June 12, 2024. The announcement aligns with the expiration of the company's Form F-3 Registration Statement under the Securities Act of 1933.
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